DEMAND GENERATION LITMUS TEST
How do you know if your company would benefit from demand generation (powered by marketing automation software)? Here’s a quick litmus test to quickly evaluate if your company should get serious about implementing an integrated demand generation strategy and platform.
(1) We have a complex sales cycle.
A complex sales cycle is one that involves more than one buyer role or persona (decision maker, influencer, technical buyer, etc.) in the buying decision.
There’s not a precise definition of a lengthy sales cycle. But to quote a judge, “You know it when you see it”. If your sales cycle is longer than 3 months, say yes.
(3) Our target audience needs or wants education about our industry, product, or product category.
This often means that you are in a new or complex market and product space.
(4) We sell something with a high price tag.
Is your product/service a big or important purchase in the eyes of your customers? Does it carry a high price tag?
(5) Our customers have a high lifetime value.
In other words, a single customer delivers a lot of revenue to your company over the course of the relationship, if you retain them.
(6) We’re pursuing a large pipeline of leads, prospects and opportunities and consistent follow-up is crucial.
Less than 500 probably isn’t a lot. More than 20,000 is quite a lot.
Do you use a sales team (inside, outside or both)? Do you need to ensure your resources are being used on the largest, most ready-for-close opportunities?
If you say yes to 2 or fewer, demand gen might be a good fit, but there are probably other areas to focus on first.
If you say yes to 3 or 4, you should definitely consider demand gen. Contact us if you’d like a quick (and free) evaluation and demand gen business case.
If you say yes to 5 or more, you are almost certainly leaving ROI on the table. Contact us right now.
Want to learn more about demand generation and how marketing automation can fuel your revenue engine? Download “Is Marketing Automation Right For You?”